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Why Is Spotify SPOT Stock Up Today?

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Why Is Spotify SPOT Stock Up Today?

There are many people around the world that still haven’t joined a paid music service. In July, https://dotbig.com/markets/stocks/SPOT/ the company reported a top-line beat, a bottom-line miss and impressive user growth numbers.

  • To calculate, start with total shares outstanding and subtract the number of restricted shares.
  • These countries seem to be following in the footsteps of the U.S., where only 9% of the population used a paid music service as recently as 2015.
  • For the last week the stock has had daily average volatility of 3.68%.
  • Data may be intentionally delayed pursuant to supplier requirements.
  • In weekly time frame, price below massive resistance, market circumstances lead the price to ~ $76 and after that, we might another attack to the resistance zone.

The consensus among Wall Street equities research analysts is that investors should "buy" SPOT shares. Another bellwether of online advertising, Meta, fell 14.9% in after-hours trading Wednesday. The social media giant’s third-quarter earnings missing expectations on both revenue and earnings SPOT per share, according to Bloomberg, and its third-quarter revenue declined 4% from the prior-year period. Three months ago, Meta posted the first year-over-year quarterly revenue decline since going public in 2012. Spotify Technology saw a decrease in short interest in the month of October.

Moody’s Daily Credit Risk Score

Even with new services emerging in recent years, Spotify continues to maintain its lead with a 32% share of the music streaming market, according to Statista. The stock has been under pressure in recent weeks over a boycott from a small group of artists that were challenging the accuracy of COVID-19-related comments made on Joe Rogan’s podcast. In early February, the stock took a further dive following Spotify’s fourth-quarter earnings results. The music streaming service could be a great value after the recent sell-off. Even with today’s nice gains though, SPOT stock is still below its pre-earnings level from last quarter. Regardless, investors will be looking for a similar post-earnings rally when the company reports. However, both gains pale in comparison to SPOT stock, which is rallying ahead of its earnings report.

Spotify stock

Monthly active users were growing around 30% per year before the pandemic through 2019. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. You can find your newly purchased Spotify stock in your portfolio—alongside the rest of your stocks, ETFs, crypto, and alternative assets. Remember, the company recently added Spotify Audiobooks, adding to its library of podcasts and music. Clearly, the company is looking at ways to generate further growth. The company is due to report earnings on Tuesday after the close, and investors are looking for another strong result like it reported in July.

Media

No offer to buy securities can be accepted, and no part of the purchase price can be received, until an offering statement filed with the SEC has been qualified by the SEC. An indication of interest to purchase securities involves no obligation or commitment of any kind. 25 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Spotify Technology in the last year. There are currently 12 hold ratings and 13 buy ratings for the stock.

A valuation method that multiplies the price of a company’s stock by the total number of outstanding shares. Get stock recommendations, portfolio guidance, and more from The Motley DotBig Fool’s premium services. With a strong brand and relatively low penetration rates around the world, investors are likely undervaluing this leading subscription service right now.

Bureau of Labor Statistics said its Consumer Price Index was up 8.3% in the year leading up to August — a big jump. The company recently launched an audiobook service as it continues trying to become a one-stop platform for all things audio.

Spotify stock

Historical and current end-of-day data provided by FACTSET. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements. Management is taking DotBig to steps to address the artists’ concerns, but the low expectations implied by the lower stock price don’t reflect Spotify’s future. The leading music streaming service still has plenty of opportunities to expand its reach around the world.

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Spotify ended the December quarter with 406 million monthly active users. While that Spotify stock represents an attractive 18% year-over-year growth rate, growth has been slowing.

MarketWatch

Most young people primarily use their smartphones to listen to music. Spotify’s massive reach translates to more songs getting shared and promoted over social media relative to competing music services. This DotBig network effect fuels more sign-ups, and Spotify still has a long way to go before reaching global saturation. Spotify is a music, video, and podcast streaming service based out of Stockholm, Sweden.

Overall MarketRank™

Currently, Apple Music now charges $10.99 a month, up $1 or about 10% from its prior price. That does leave some wiggle room should management choose to raise prices, even if it just matches Apple’s pricing. On the one hand, it would be an immediate bump in sales — provided it doesn’t lose customers as a result. On the https://dotbig.com/markets/stocks/SPOT/ other hand, a lower price may be attractive for gaining market share versus its competitors. On paper, circumstances generally appear positive for the streaming giant. According to Barron’s, top-line sales came out to about $3.03 billion. Analysts tracked by FactSet reported a consensus revenue target of $2.9 billion.

Spotify Technology SA price target cut to $125 from $150 at Truist Securities

Exchanges report short interest twice a month.Percent of FloatTotal short positions relative to the number of shares available to trade. Discuss news and analysts’ price predictions with the investor community. Shares of SPOT stock officially registered a new 52-week low in mid-October when it hit $78.50. So to say it’s been a rough ride for long-term investors is a bit of an understatement. Spotify Technology SA holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. Real-time analyst ratings, insider transactions, earnings data, and more. Raised $0 in an initial public offering on Tuesday, April 3rd 2018.

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